PlayStation 4 and Xbox One are both expected by the firm to hit 100 million units by 2020 with “price and strength in Europe” giving PS4 a slight edge.

The firm believes PS4 “could easily become lead platform for Western and Japanese developer and publishers,” with the firm’s David Cole suggesting price cuts could come slower than expected on next-gen systems.

“We modeled price cuts into that but we think they are going to happen fairly slowly and there are likely to be more bundles versus just a straight price cut. We think they will do their best to maintain a solid price point,” he said adding that the firm was being “conservative” with its estimates.